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Highlights
- Wellington Management boosts stake in Chart Industries by 90.9%.
- Institutional investors continue to adjust their positions in GTLS.
- Chart Industries reports steady growth in quarterly revenue despite earnings miss.
Chart Industries Inc. has seen significant changes in its institutional ownership, with Wellington Management increasing its stake by nearly 91%. As the company continues to experience growth, its quarterly performance and stock fluctuations reflect ongoing interest in the industrial sector. Chart Industries remains a key player in the NYSE Industrial Stocks space.
Wellington Management Expands Stake in Chart Industries (NYSE:GTLS)
Wellington Management Group LLP significantly increased its holdings in Chart Industries, Inc. by 90.9% during the third quarter. According to the latest 13F filing, the firm acquired an additional 262,592 shares, bringing its total holdings to 551,482 shares. The firm now owns a 1.29% stake in Chart Industries, valued at approximately $68.46 million. This move underscores a positive sentiment toward the industrial sector as institutional investors adjust their portfolios.
Changes in Institutional Ownership
Several other institutional investors have also altered their stakes in GTLS. Envestnet Portfolio Solutions Inc. grew its position by 3.5%, adding 64 shares to bring its total holdings to 1,871 shares. Similarly, Community Trust & Investment Co. expanded its stake by 30.6%, now owning 57,543 shares. Other entities such as Lifestyle Asset Management Inc., Central Bank & Trust Co., and Paradiem LLC have also made strategic additions to their positions, reflecting diverse market interests in Chart Industries.
Chart Industries Stock Performance
Shares of Chart Industries opened at $192.08, with the company maintaining a market capitalization of $8.22 billion. The stock has fluctuated between a 52-week low of $101.60 and a high of $196.91, indicating significant volatility in its market performance. The price-to-earnings (P/E) ratio is 55.68, with a price-to-earnings-growth (PEG) ratio of 0.98, indicating moderate growth expectations. Chart Industries maintains a debt-to-equity ratio of 1.16, reflecting a balanced approach to financial leverage.
Quarterly Performance
In its latest quarterly report, Chart Industries posted earnings per share (EPS) of $2.18, missing analyst expectations of $2.56. The company’s revenue for the quarter reached $1.06 billion, exceeding the estimated $1.10 billion, marking a year-over-year growth of 18.3%. Despite the EPS miss, Chart Industries demonstrated solid financial health with a return on equity (ROE) of 13.25% and a net margin of 4.3%. The company remains on track to post an estimated 9.03 EPS for the current fiscal year.
Chart Industries, Inc. specializes in designing, engineering, and manufacturing process technologies and equipment for gas and liquid molecules. It operates through four key segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing. With operations spanning across the U.S. and internationally, Chart Industries plays a crucial role in the global industrial sector.
